Leases

12 Months Ended

Jan. 31, 2020

The Company's operating lease arrangements are principally for office space. As of January 31, 2020, the Company had $8.6 million of operating lease liabilities, current, $115.2 million of operating lease liabilities, non-current, $112.0 million of operating lease right-of-use assets, and no financing leases, on its consolidated balance sheet. The operating lease arrangements included in the measurement of lease liabilities do not include short-term leases as discussed in Note 2, "Summary of Significant Accounting Policies", and had a weighted-average remaining lease term of 10.1 years and a weighted-average discount rate of 5.8%, as of January 31, 2020. During the fiscal year ended January 31, 2020, the Company entered into new operating lease arrangements for office space, including in Rosslyn, VA, London, UK and New York, NY, each of which have expiration dates subsequent to the fiscal year ending January 31, 2025.

During the fiscal year ended January 31, 2020, the Company recognized $21.2 million of lease expense, which consisted of operating lease expense of $16.8 million, short-term lease expense of $2.2 million, and variable lease expense of $2.2 million, respectively. During the fiscal year ended January 31, 2020, the Company paid $7.5 million for amounts included in the measurement of lease liabilities and obtained $110.2 million of operating lease right-of-use assets in exchange for lease obligations. During the fiscal years ended January 31, 2019 and 2018, rent expense was $7.3 million and $6.3 million, respectively.

The total remaining operating lease payments included in the measurement of lease liabilities on the Company's consolidated balance sheet as of January 31, 2020, was as follows (in thousands):


Fiscal year ending January 31:	Operating Lease Payments
2021	$	11,881
2022	17,857
2023	17,826
2024	17,558
2025	17,148
2026 and thereafter	111,158
Total gross operating lease payments	193,428
Less: tenant allowances	(17,271)
Total net operating lease payments	176,157
Less: imputed interest	(52,330)
Total lease liabilities, reflecting the present value of net lease payments	$	123,827